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Every Individual carrying on profession having Gross Total Income above Rs 2,50,000 has to compulsory file Income Tax Return.

Consultants working in corporates, Professionals, Free Lancers, Insurance & Postal Agents, Stocks & MF Advisors can submit their Tax returns.

Due Date of Filing Return
If Gross receipts up to 50 Lacs 31 July 2016, for Financial Year (2015-16)
If Gross receipts or Total Turnover above 50 Lacs 30 Sept 2016, for Financial Year (2015-16)
ITR Form Prescribed by the Income Tax Department
ITR Form 4 Individual only. (being professional)
ITR Form 3 Partner in firm .( Income chargeable toincome-tax under the head "Profits or gains from profession" does not include anyincomeexcept their incomeby way of any interest, salary, bonus, commission or remuneration, by whatever name called, due to, or received by him from such firm)

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